The crypto wallets, also known as the cryptocurrency wallets, permit you to generate unique addresses with the help of which you receive your crypto tokens. They also enable the users to send cryptocurrencies to other waller addresses using the blockchain and on a P2P or Peer-to-Peer basis. A private key secures the wallet address that enables the users to recover it in case it gets lost. There are several kinds of crypto wallets of which we are going to discuss about the best bitcoin wallets that permits the users to real-time cryptocurrency balances for their portfolios.
What Is A Bitcoin Wallet? How Does It Work?
A bitcoin wallet is a digital wallet that stores all the digital currencies, otherwise known as the cryptocurrencies and several other related assets. Basically, a bitcoin wallet is a software that has been built on the Bitcoin or other blockchain helping to generate addresses to and from which the transactions are sent or received. A BTC wallet promotes the p2p transactions between the cryptocurrency users.
A crypto wallet generates addresses for the wallet to or from which the digital assets or cryptocurrencies can be sent or received. An individual makes use of the other individual’s wallet address for sending the cryptocurrencies to the second individual. In such a case, the second individual has to have the private keys to the wallet address. The addresses and the keys are associated cryptographically and are secured to prevent hacking. For unlocking and spending those sent funds, the balances get reflected on both the wallets in use to permit transaction tracking while the users remain anonymous.
How Is Privacy In The Crypto Wallets Maintained?
Most of the cryptocurrency wallets including the best anonymous bitcoin wallets use the BIP32 key derivation standard that facilitates the online wallets to generate new wallet addresses for all the incoming transactions and keep the change in a separate wallet improving the privacy of the transactions.
Some of the wallets also make use of the Pay-to-Script-Hash addresses (P2SH) that enables the users to create new addresses for receiving Bitcoins (BTC) and also to unlock the balances by abiding by a set of rules of using the private keys. These are commonly used in the multi-signature (multisig) wallets and the addresses will possess multiple digital signatures. The private keys prove the ownership of the funds.
However, the most common variant of wallet addresses are known as the Pay-to-PubKey Hash (P2PKH) addresses that are used to unlock the funds. For this, the recipient must use a private key that is associated with the public key and used to create the wallet address.
There also exists another kind of wallet that is not much talked about or mentioned. It is the Hierarchical Deterministic (HD) wallets that uses a master key and individual sets of the private keys for each of the wallet addresses in the crypto wallet.
List Of The Best Bitcoin Wallets Making Transaction Easy & Anonymous
Here is a list of the best bitcoin wallets that will help you to conduct your crypto transaction easily. Here we have mentioned the wallets as per rank. Some of these wallets are the best bitcoin wallets for android and best bitcoin wallets for iphone while most of them support both. Additionally, we will also offer a compact comparison chart for easy understanding. So, keep on reading.
Exodus is one of the online best Bitcoin wallets UK that is the perfect choice for the diversified multi-crypto holders. It permits the users to receive live price charts for the cryptocurrencies. Real-time or live charts help the users to monitor the crypto market movements even on the go using their mobile phones. This will also help them to make a proper decision for selling or buying to add their portfolio before it gets too late.
- The wallet supports more than 100 cryptocurrencies.
- The platform works on both mobile and desktop and easily syncs with the crypto hardware wallets including the Trezor and Exodus wallets. Talking of the OS, it works on both Android and iOS.
- The digital wallet permits an individual to purchase and sell all the supported cryptocurrencies from the best crypto wallet app without the requirement of withdrawing or using a centralized exchange.
- Verifying code is a bit difficult as it is not open-source.
- There are no custom fees for Ethereum (ETH) and other transactions.
Similar to the Exodus crypto wallet, the Mycelium wallet offers direct and one-on-one control of your cryptocurrency private keys and they will remain in your device. You are also permitted to lock the wallet using a secure pin. It permits the users to operate multiple accounts and then reuse those addresses. It is best for the crypto traders and the diversified hodlers.
- The wallet facilitates trading for ERC-20 and BTC cryptos as well as in-app exchanges. This is carried out using the Local Trader feature. It is considered as one of the best multi-currency wallets in the crypto space.
- The platform offers in-app educational materials for helping you to understand the cryptocurrency usage and security.
- It supports the private keys, paper wallets and the master seeds.
- The wallet integrates with any secure cold storage or hardware wallets such as Entropy, KeepKey, Ledger, Trezor and web wallets.
- You can also take the PDF backup and restore the single key accounts.
- It might be a little difficult for the beginners.
- It lacks the desktop version.
Trezor is an offline hardware wallet or cold storage that can be used to store over 100 cryptocurrencies offline and away from the risk of internet connections. It permits the users to sign as well as verify the transactions offline utilizing the physical buttons of the device prior to transmitting the transactions into the network via exchange or send.
It can be utilized to store large amounts of the cryptocurrencies offline making it more useful for the custodian applications by the cryptocurrency companies, the exchanges etc. It is one of the top cryptocurrency wallets as it enables the individuals to manage their portfolio as well as send and receive crypto securely. The crypto wallet is ideal for the institutions, groups, exchanges, organizations and the custodians.
- The hardware wallet enables the users to buy, sell, and trade their cryptocurrencies on the crypto exchanges like ChangeNow and Changelly.
- The users can backup so that they can recover it later if they lose it. This can be done using the 12-24 words long recovery seed.
- It is compatible with several app wallets.
- Password manager is available.
- Cloud storage options are available and microSD storage options are soon to be integrated.
- You have to purchase the cold wallet.
- The customer service is not upto the mark.
The Electrum wallet is one of the best Bitcoin Wallets for the investors and the traders who are pretty experienced in crypto. Similar to many other software wallets, this top cryptocurrency wallet creates a local backup of the key on your device. Thus, your private key stays on your device. This means that it is much more secure. Additionally, the wallet is encrypted and secured with a password.
The user receives a 12-24 keyword recovery phrase that is used to recover the wallet. You will also be able to recover the coins that are stirred in it in case of a mishap that the computer crashes or you lose the machine somehow.
- It supports the synchronization of various hardware wallets such as Ledger Nano and Trezor.
- The wallet supports the Segwit transactions making it affordable for all those trading the Bitcoins on the cryptocurrency exchanges that support Segwit addresses.
- The wallet works on Python, desktops, osx and on the Android devices as well.
- The Individuals can sign offline transactions using the device.
- Unlike the other wallets, there is no option to buy and sell cryptocurrencies.
The Wasabi wallet is best for the transparency conscious users as it uses an integrated CoinJoin transaction mixing type for concealing the identity of the ones receiving and sending the transactions. Simultaneously, it also integrates the Tor network for reserving further transaction anonymity. The best part is that the wallet efficiently lists all the individual UTXOs or the unspent transaction outputs. Thus, the history of the transactions remain clearer.
The users have to manually click on each of the UTXOs or select a coin in order to spend it. In this way, it discourages the combination of the private and non-private coins in one transaction as it happens regularly. This might decrease privacy in automatic coin selection algorithms.
- The wallet syncs with Trezor, Ledger devices and Coldcard.
- The wallet is one of the best bitcoin wallets for pc and available for desktops for the Operating Systems Windows 10, macOS, Ubuntu, Linux.
- Lacks mobile support.
- Do not offer exchange of the cryptocurrencies.
- The wallet is relatively new.
- Requires minimum of 0.1 BTC.
Opolo hardware wallet is best for the cryptocurrency hodlers and the beginners of the hardware wallets. It is in a pre-order stage where it uses an EAL 6+ rated chip for securing the cryptos of the users. Most of the current hardware devices possess EAL1 to EAL5 category of chips. It is also audited by the external companies like the Digital Security Paris and it is verified as capable of helping to secure the IoT devices.
- Easy backup and recovery with the seed phrase is possible with this wallet.
- It permits exchanging and trading of the cryptocurrencies from an app on the mobile.
- It also includes a fiat exchange for permitting the users to exchange the cryptocurrencies with USD and several other fiat currencies.
- Supports the storage and trading of more than 120 cryptocurrencies and more than 200,000 tokens.
- It works on the desktops as well on mobiles – Mac, Windows, and Linux, and Android. It is considered to be one of the best desktop bitcoin wallets.
- It is a new entrant in the cryptocurrency market.
- The wallet is a bit on the expensive side.
Cobo is a software HD wallet that is completely cloud-based and is best for the dApp users, developers, gamers, holders, stakers. It permits the users to save the private keys to their crypto holdings on their mobile phones, import the seeds from the other wallets, verify the transactions with the QR codes and secure the wallets with the passwords as well as 2FA or Two-Factor Authentications. It allows the users to access the dApps, stake their cryptocurrencies for earning more. Additionally, they can store, send and receive crypt coins.
- It is one of the best free bitcoin wallets that works on both the Android and iOS devices.
- Not similar to most of the other wallets, it permits the users to stake their digital currencies and easily earn from their wallets by staking the stored cryptocurrencies.
- The wallet implements the EAL5+ secure element chip for the vault.
- It supports over 20 chains and over 700 tokens.
- There is no integrated in-wallet trading exchange of the cryptocurrencies.
The BitBox hardware wallet or Shift Crypto is ideal for institutions and custodians, groups, exchanges, etc. It lets the users store their crypto private keys offline. It comes with an application and a desktop BitBoxApp that permits the users to manage the coins in their portfolio. The app possesses an in-app guide on cryptocurrency and how to use the hardware wallet. The wallet features an OLED display as well as touch buttons that permits the users to manually and physically sign transactions including all the offline transactions.
- The wallet supports over 1500 cryptocurrencies and tokens including Ethereum (ETH) and Bitcoin (BTC).
- The users will get the option of a Bitcoin-only hardware wallet for storing only their BTC.
- The wallet is compatible with USB Type C which makes it easier to be used with a mobile device.
- The users need to use the 24 recovery words in order to recover the wallet in case of damage or loss.
- The implementation of the universal 2FA permits the users to use the device for securing their online accounts like the online emails and cryptocurrency exchanges.
- Lack of an integrated exchange.
Ledger is best for the groups, organizations and the companies. It is the best crypto wallet in India. The Ledger Nano S is a hardware wallet and most common amongst the cryptocurrency users who are looking forward to storing large amounts of the cryptocurrencies including Bitcoin. It is considered to be one of the best bitcoin wallets supporting multi-cryptocurrency. Now, it comes with a mobile wallet named as Ledger Live App for helping the users to manage cryptocurrencies on the go.
This wallet makes use of EAL5+ certified chips for securing the cryptocurrencies and is certified by the ANSSI. It enables the possibility to sign or verify the transactions offline using the physical buttons located on the device. This is done while sending the coins.
- The wallet permits managing and trading more than 1800 cryptocurrencies and tokens from the phone and computer.
- It permits pin code security.
- The users can recover their cryptos and the wallet using the 24 word recovery phrase.
- Has bluetooth connectivity of the Nano X.
- It is compatible with USB-B and USB-C so that it is easier for it to be connected to mobile devices.
- The wallet is much costlier than the software wallets.
BitPay is very popular for the merchants of the outlet and retail stores who are willing to accept payments in the cryptocurrency in addition to tracking the value of their crypto. With it, the merchants can also expand globally and avoid the chargebacks and the ID theft. The wallet pretty much works with the prepaid MasterCard Debit cards for permitting for the easier crypto to fiat conversion.
The cryptocurrency card permits the spending of crypto at any store and cryptocurrency ATM globally from the wallet. In the other words, the cryptocurrency works together with the app to enable users to spend their cryptic coins easily. Anyone can fund the card from the wallet and also spend at the stores and Bitcoin ATMs that accept cryptocurrencies or permit withdrawals with this MasterCard.
- The wallet supports 9 cryptocurrencies and stable coins in addition to all the ERC-20 tokens.
- The BitPay Wallet secures the cryptocurrencies with the multi-signature addresses.
- The users can enjoy push notifications and instant emails for the transfers and payments.
- The backup process is easy.
- It also offers a dedicated marketplace that lets the individuals shop for the gift cards.
- The app works for iOS, Android, Linux and Windows 10.
- This is not free and you have to spend money.
This is a non-custodial decentralized wallet that is best for the staking community and the holders. It enables the users to own and store the private keys on their local devices while managing their cryptocurrency assets. Even the company had launched an Atomic Wallet Token launched two years ago. It is used for the cashbacks, affiliate airdrops, for staking in the wallet and bounty programs. Atomic Wallet is often included in the best Bitcoin wallet Reddit threads.
- The wallet supports Ethereum, Bitcoin, Ripple (XRP), Litecoin (LTC), Stellar Lumens (XLM) and other 300 tokens and coins.
- The wallet works on macOS, Windows, Debian, Ubuntu, Android, iOS and Federo.
- The wallet offers a backup phrase for the recovery of the wallet.
- The wallet lacks integration with the offline storage hardware wallets.
Bitcoin Cash wallet or BitcoinWallet is best for the cryptocurrency traders who want to store Bitcoin and Bitcoin Cash. The wallet possesses the tools that the users need to spend their digital currency exactly the way they want. For example, they can spend their coins at the outlets and the merchant stores or the ATMs that are already listed in the app.
Alternatively, the users can also trade in-app and can convert these assets into the integrated stable coins for saving themselves from the volatile movements and reconvert the assets back anytime they wish to trade.
- The wallet offers fingerprint unlock as a secured mode of accessing the app.
- The company offers separate wallets for saving and spending making transactions even more convenient.
- Wallet backup can be done easily and an individual can quickly restore the wallet.
- The stablecoins are pegged to the US dollar.
- Hardware wallet support is not available.
It is a Bitcoin-only wallet where the users can only store Bitcoins and not the other cryptocurrencies they might wish to. The users can use the network to send and receive Bitcoins as it performs as a full node for Bitcoin. The users are also able to track the transactions and the details of the transactions, export wallets and keep the address books.
- This one of the best Bitcoin wallets works on a variety of platforms such as ARM Linux, Windows, macOS and Linux devices.
- The users might also avoid downloading the 400 GB of blockchain file and can choose to solely manage just 6 GB of file.
- The Bitcoin network is supported by running a node and also to mine BTC.
- The wallet can easily be backed up and restored.
- As Bitcoin is only supported, you will not be able to store any other crypto coins.
- Absence of any internal exchange.
- The users can only connect a single address to the app.
- Syncing the app consumes days to be completed.
One of the best Bitcoin Wallets. The Green Address is considered to be ideal for the multi-signature group users. It permits the users to store Bitcoins that can be secured with the 2FA or two factor authentication as well as the multi-signature technology. The private keys are additionally stored locally on the device of the users. Another security feature permits the users to log into their wallets in a watch-only mode that never loads any cloud-stored or local keys. Thi makes it secure for the users to keep a watch on their transactions and even balances when they are using the public Wi-Fi or the Internet.
- The wallet enables you to set the spending limit and the rate limits to your transactions.
- Each transaction possesses a newly generated address that improves the privacy of the transactions. Various addresses are used to store the change.
- The automatic pre-signed transaction or the nLockTime is set in such a manner that if the service either disappears or is taken down, the users will still get their funds after a predefined time.
- Integrated exchange is not available.
- Best wallet for Bitcoin. Thus, it does not support any other cryptocurrencies.
- Unfortunately, it is not compatible with the hardware wallets.
Best Bitcoin Wallets In A Gist
Here is a compact table that compares the top BTC wallets for your ease.
HARDWARE WALLET COMPATIBILITY
Software wallet; HD wallet
diversified multi-crypto holders
crypto traders and diversified hodlers
crypto institutions, exchanges, groups, organizations, and custodians
Available in Gold standard at the price of 59 Eur and Premium at a cost of 180 Eur.
Yes, Ledger Nano S and Trezor
traders and investors experienced with crypto
Transparency conscious users
Crypto hodlers, and beginner users of hardware wallets
199 Eur for wallet only up to 399 Eur for the Security Pack
Mobile software wallet
dApp users, developers, gamers, holders, stakers
institutions and custodians, groups, exchanges, etc
$28 for BitBox 02, 59.00 Eur for BitBox 1.
different software wallets, including native wallets for BTC
companies, groups, organizations
Software and physical card
Nano Ledger or Trezor
merchants and outlet and retail stores
holders and staking community
multi-signature group users
The hardware wallets or the cold storage is considered to be the most secured and the best crypto wallets that permits offline signing of the transactions. But it is a fact that they are very expensive. The best mobile bitcoin wallets can be considered as some of the best Bitcoin wallets as they enable the users to store, send, receive and manage the cryptocurrencies on the go.